Royal Bank of Canada Purchases 21,045 Shares of ITT Inc. $ITT

Royal Bank of Canada boosted its holdings in shares of ITT Inc. (NYSE:ITT) by 16.6% during the 1st quarter, Holdings Channel reports. The fund owned 147,549 shares of the conglomerate’s stock after buying an additional 21,045 shares during the period. Royal Bank of Canada’s holdings in ITT were worth $28,111,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Elyxium Wealth LLC purchased a new stake in shares of ITT in the 4th quarter worth approximately $29,000. Bayban purchased a new position in ITT during the fourth quarter valued at approximately $31,000. Parkside Financial Bank & Trust raised its stake in ITT by 62.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 197 shares of the conglomerate’s stock worth $34,000 after buying an additional 76 shares in the last quarter. Triumph Capital Management purchased a new stake in ITT during the third quarter worth $37,000. Finally, Entrust Financial LLC bought a new stake in ITT during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ITT. KeyCorp lifted their price target on ITT from $230.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Stifel Nicolaus raised their price objective on ITT from $246.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Citigroup lifted their target price on ITT from $252.00 to $254.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings downgraded shares of ITT from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. Finally, Wolfe Research raised shares of ITT from a “peer perform” rating to an “outperform” rating and set a $229.00 price target for the company in a research report on Thursday, July 9th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $234.75.

Insider Transactions at ITT

In other ITT news, CAO Mesa Graziano Cheryl De sold 200 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $208.41, for a total value of $41,682.00. Following the completion of the sale, the chief accounting officer owned 7,859 shares of the company’s stock, valued at approximately $1,637,894.19. This trade represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lori B. Marino sold 7,123 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $208.27, for a total value of $1,483,507.21. Following the completion of the sale, the insider directly owned 8,729 shares of the company’s stock, valued at approximately $1,817,988.83. This represents a 44.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.88% of the company’s stock.

ITT Stock Performance

Shares of ITT opened at $205.05 on Wednesday. ITT Inc. has a 12 month low of $163.30 and a 12 month high of $225.26. The stock has a fifty day moving average price of $193.21 and a 200-day moving average price of $196.53. The company has a current ratio of 1.53, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The firm has a market cap of $18.33 billion, a PE ratio of 36.16, a P/E/G ratio of 1.87 and a beta of 1.27.

ITT (NYSE:ITT) last announced its earnings results on Wednesday, May 6th. The conglomerate reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.21. ITT had a return on equity of 16.83% and a net margin of 10.80%.The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the business earned $1.45 EPS. The firm’s revenue for the quarter was up 32.7% on a year-over-year basis. Equities research analysts predict that ITT Inc. will post 7.89 earnings per share for the current fiscal year.

About ITT

ITT Inc is a diversified industrial manufacturing company that designs, manufactures and services mission-critical components and systems for global markets. Its engineered solutions support applications in aerospace, defense, transportation, energy and industrial automation. The company focuses on delivering high-performance products that enable reliable fluid handling, precision motion control and robust connectivity in demanding environments.

The company’s operations are organized into three segments: Motion Technologies, which provides precision components and aftermarket repair services for aircraft engines and industrial turbines; Connect & Control Technologies, which offers specialty valves, couplings, seals and proximity sensors for fuel, hydraulics and environmental control systems; and Fluid & Motion Control, which delivers pumps, heat exchangers and fluid management solutions for oil and gas, chemical processing and power generation.